Essentials of Corporate Finance Study Set 4
Quiz 1 :
Introduction to Financial Management
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Q05 Q05 Q05
Will and Bill both enjoy sunshine, water, and surfboards.Thus, the two friends decided to create a business together renting surfboards, paddle boats, and inflatable devices in California.Will and Bill will equally share in the decision making and in the business profits or losses.Which type of business did they create if they both have full personal liability for the firm's debts?
Q24 Q24 Q24
Maria is the sole proprietor of an antique store that is located in a rented warehouse.The store has an outstanding loan with the local bank but no other debt obligations.There are no specific assets pledged as security for the loan.Due to a sudden and unexpected downturn in the economy, the store is unable to generate sufficient funds to pay the loan payments due to the bank.Which of the following options does the bank have to collect the money it is owed?